Sixth Street Specialty Lending, Inc. (NYSE:TSLX) to Issue $0.05 Dividend

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) declared a dividend on Wednesday, November 27th,investing.com reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.05 per share by the financial services provider on Friday, December 20th. This represents a dividend yield of 7.69%. The ex-dividend date is Friday, November 29th.

Sixth Street Specialty Lending has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Sixth Street Specialty Lending to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 82.5%.

Sixth Street Specialty Lending Trading Up 1.2 %

NYSE TSLX opened at $21.19 on Thursday. The company has a fifty day simple moving average of $20.51 and a two-hundred day simple moving average of $20.99. The stock has a market cap of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the company posted $0.60 earnings per share. On average, analysts forecast that Sixth Street Specialty Lending will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLX has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $22.00.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.